State of Tennessee Department of Treasury Purchases 74,874 Shares of Copart, Inc. (NASDAQ:CPRT)

State of Tennessee Department of Treasury increased its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 24.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 386,147 shares of the business services provider's stock after purchasing an additional 74,874 shares during the quarter. State of Tennessee Department of Treasury's holdings in Copart were worth $22,161,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sandy Spring Bank raised its holdings in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after buying an additional 176 shares in the last quarter. Curio Wealth LLC acquired a new position in Copart during the fourth quarter worth $52,000. Retirement Wealth Solutions LLC bought a new position in shares of Copart during the fourth quarter valued at $54,000. Eastern Bank boosted its stake in shares of Copart by 115.1% in the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider's stock valued at $69,000 after purchasing an additional 640 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Copart in the 4th quarter worth about $73,000. 85.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Copart

In related news, Director Steven D. Cohan sold 94,997 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,000 shares of company stock worth $11,401,000. 9.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Argus downgraded shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Copart Price Performance

CPRT stock opened at $60.41 on Wednesday. The business has a fifty day moving average price of $56.23 and a 200 day moving average price of $57.00. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The stock has a market capitalization of $58.36 billion, a price-to-earnings ratio of 40.54 and a beta of 1.22.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. On average, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.